Meaning of “cutback” in the English Dictionary

"cutback" in American English

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cutbacknoun [ C ]

us /ˈkʌtˌbæk/

a reduction, esp. one made to save money:

Cutbacks in public spending are expected in the next budget.

(Definition of “cutback” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"cutback" in Business English

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cutbacknoun [ C, usually plural ]

uk /ˈkʌtbæk/ us

a reduction that is made to save money:

The company has announced cutbacks in production due to falling sales.
big/drastic/severe, etc. cutbacks The closure of the construction company could mean big cutbacks among its suppliers.
announce/propose/face, etc. cutbacks Many schools are facing cutbacks in funding this year.
budget/staff/spending, etc. cutbacks

(Definition of “cutback” from the Cambridge Business English Dictionary © Cambridge University Press)